**Exhibit 99.3**

**A LATE-STAGE CLINICAL BIOPHARMACEUTICAL COMPANY**

ÆTERNA ZENTARIS

ANNUAL REPORT 2006

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COMPANY STRENGTHS
| Depth     |   | Deep and focused pipeline at all stages of  development      |
|-----------|--------|--------------------------------------------------------------|
| Breadth   |   | Ability to penetrate large and growing markets               |
| Execution |   | Successful achievement of clinical and corporate  milestones |

 

**ÆTERNA ZENTARIS INC.(TSX: AEZ, NASDAQ: AEZS)**

Please note that all amounts are in US dollars

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ÆTERNA ZENTARIS INC. IS A **LATE-STAGE,PURE PLAY** GLOBAL BIOPHARMACEUTICAL COMPANY FOCUSED ON **ENDOCRINE THERAPY AND ONCOLOGY**, WITH PROVEN EXPERTISE INDRUG DISCOVERY, DEVELOPMENT AND COMMERCIALIZATION

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2006 HIGHLIGHTS

**In 2006, Æterna Zentaris delivered solid results**

Late-stage programs

**CETRORELIX**

·                  Acceptance byFDA of IND for Phase 3 program in benign prostatic hyperplasia (BPH)

·                  Launch ofCetrotide® (cetrorelix) in Japan for *invitro*fertilization

·                  Regainedexclusive worldwide (ex-Japan) rights for cetrorelix in BPH

**OZARELIX**

·                  Positive Phase 2results in BPH Initiation of Phase 2b trial

·                  Positive Phase 2results in prostate cancer Initiation of Phase 2b trial

·                  Exclusivelicense granted to Nippon Kayaku for ozarelix in oncology in Japan

**PERIFOSINE**

·                  Positive interimPhase 2 data in advanced renal cell carcinoma

·                  Positive Phase 2results in multiple cancers

·                  Initiation ofmultiple Phase 1 and Phase 2 trials in cancer

EARLIER-STAGE PROGRAMS

**AN-152**

·                  Positive topline Phase 1 results for breast and gynaecological cancers

**ZEN-012**

·                  Acceptance byFDA of IND for Phase 1 trial in solid tumors and lymphoma

PURE PLAY CORPORATE STRATEGY

Æterna Zentaris spins off subsidiary Atrium andemerges as a pure play biopharmaceutical company

·                  Secondaryoffering ensuring financial stability to execute business plan

·                  Distribution ofremaining Atrium shares to Æterna Zentaris shareholders

 

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|                                               |   |                                                    |   |
|-----------------------------------------------|--------|----------------------------------------------------|--------|
| Gilles Gagnon, MSc, MBA   President & CEO |   | Eric Dupont, PhD   Executive Chairman of the Board |   |

 

**MESSAGE TO SHAREHOLDERS**

In 2006, the progress of our lead drug candidatesthrough advanced clinical trials and the spin-off of our subsidiary AtriumBiotechnologies enabled us to successfully achieve our goal of emerging as alatestage, pure play biopharmaceutical company. Reaching this milestone in ourevolution represents a fulfillment of both our drug development and corporatestrategies that we have tediously executed for many years.

Driven by positive clinical results, we areaggressively moving two product candidates through late-stage trials. In earlyclinical and preclinical development, we are targeting several extremelypromising compounds with high future potential. In our library of 120,000proprietary molecules resides the currency of a fruitful pipeline for manyyears to come. In addition, and perhaps most critically, the members of ÆternaZentaris’ management have collectively participated during their careers in thedevelopment and launch of over twenty drugs; this resource of talent powerfullydistinguishes the Company in a marketplace that rewards depth of experience.

UNLOCKING THE FULL VALUE OF THE COMPANY

While very encouraging data resulted from our clinicaltrials in 2006, conditions grew increasingly ripe for Æterna Zentaris to becomea pure play company. Accordingly, in October of 2006, we sold 24 % of ourequity in our subsidiary, Atrium Biotechnologies, raising nearly $45 millionthrough a secondary offering. Subsequent to year end, the Company distributedthe remainder of our equity in Atrium to Æterna Zentaris shareholders as areturn on their investment — with that, we emerged as a pure playbiopharmaceutical company.

Since 1991 our ownership of Atrium — a leadingdeveloper, manufacturer and marketer of value-added products for the cosmetics,pharmaceutical, chemical and nutrition industries — had served us well as astrong financial leverage. With our pipeline carrying us closer to majorbreakthroughs, the route that promises optimal benefit became clear. Bydivesting our stake in Atrium, we began unlocking the full value of ourpipeline. Æterna Zentaris is now devoted exclusively to discovering, developingand marketing biopharmaceutical products with a focus on endocrine therapy andoncology.

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DELIVERING CLINICAL RESULTS

**CETRORELIX**

In 2006, our flagship product candidate, cetrorelix,reached a pivotal evolutionary milestone in the history of Æterna Zentaris.After a successful end-of-Phase 2 meeting with the FDA, we received approval tofile for a Phase 3 program targeting benign prostatic hyperplasia (BPH) and aswe closed the year, we initiated the first study of this extensive Phase 3program.

The launch of our extensive 1,500 patient Phase 3program in BPH with cetrorelix brings us yet another step closer to bringingthis compound to market. Importantly, we have all of the resources to advancecetrorelix in BPH on our own through to an NDA submission. We are very excitedabout the fact that cetrorelix has not only the potential to conveniently,safely and effectively treat men who suffer from BPH, but also createtremendous value to our shareholders. The global commercial opportunity intreating BPH cannot be overstated as it represents a market that exceeds $4billion.

Furthermore, we achievedanother milestone by launching cetrorelix - under the brandname Cetrotide® - onthe Japanese market through our partner Shionogi for *in vitro*fertilization. Cetrotide®, the first LHRHantagonist to be marketed in Japan for this indication, has been on the marketsince 1999. Again, this demonstrates our capacity to bring therapies to marketfor conditions affecting millions of people.

**OZARELIX**

Clinical trial results over the past year for oursecond LHRH antagonist lead compound, ozarelix, have been similarly excitingand could have a very significant commercial outcome.

In October, with our partner Spectrum Pharmaceuticals,we disclosed highly statistically significant Phase 2 results evidencing thealleviation of BPH clinical symptoms. Ozarelix also showed an excellent safetyprofile with no serious side effects. Following these positive results, weexpanded the program to a Phase 2b trial. With both cetrorelix and ozarelix inlate-stage clinical trials, we are now leading the LHRH antagonist class in thedevelopment of treatments for BPH

In August, we announcedpositive Phase 2 results for this fourth generation LHRH antagonist in hormonedependent,inoperable prostate cancer. The trial was conducted in Europe again incollaboration with Spectrum. The results confirmed the mechanism of action ofour LHRH antagonist approach, showed that ozarelix provides a unique and rapidonset of action, and demonstrated that ozarelix holds promise for the treatmentof other hormonal-dependent cancers. We then expanded the program in prostatecancer to a Phase 2b trial to further verify and optimize our findings, andexpect results from this trial in 2007.

Further validation of the potential of ozarelix incancer came with a licensing and collaboration agreement with Nippon Kayaku,our Japanese partner. We granted Nippon Kayaku the exclusive rights to developand commercialize ozarelix for oncology indications in Japan.

**PERIFOSINE**

Our third promising compound, perifosine, has shownpositive Phase 1 and Phase 2 data for the treatment of patients suffering fromdifferent forms of cancer. Along with our partner Keryx Biopharmaceuticals, weare pursuing multiple Phase 2 trials in cancer with perifosine as a singleagent or in combination with other treatments for which results will bedisclosed throughout the year. Additional Phase 2 trials in cancer are plannedover the next twelve months. Furthermore, we expect to complete enrollment ofpatients for our own Phase 2 trial with perifosine in non-small cell lungcancer in combination with radiotherapy in the upcoming months. The year aheadcould contain some very exciting announcements from these trials as perifosine`sunique mechanism of action allows for a number of anti-cancer treatmentopportunities in monotherapy as well as in combination therapy.

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TARGETING EARLIER-STAGE COMPOUNDS WITH HIGH POTENTIAL

Our drug development strategy is also aimed atestablishing a risk-adverse profile by targeting earlierstage programs withhigh potential. In line with this strategy, we reported top line positive Phase1 results with our LHRH specific cytotoxic conjugate, AN-152, for ovarian,breast and endometrial cancers. These results obtained with this novel approachlend further credibility to our very promising oncology platform while alsoenabling our Company to step into the era of personalized medicine. Indeed, bytargeting patients suffering from ovarian and endometrial cancers withconfirmed presence of LHRH receptors, we are increasing the probabilities ofbringing AN-152 specifically to the tumor, therefore increasing our chances ofsuccess for our Phase 2 program which we expect to launch later this year inthese indications. We also initiated a Phase 1 trial for solid tumors withZEN-012, a new small molecule. We believe this oral compound has the potentialto be a novel, promising multi-targeted intermittent cancer therapy and lookforward to further developments in the clinic this year.

MOVING FORWARD AS A LATE-STAGE COMPANY

With two productcandidates slated to be in Phase 3 for the year ahead, Æterna Zentaris begins anew era as a late-stage pure play biopharmaceutical company. With $60 millionin cash and no significant long-term debt, a prudent risk management approach,as well as a new focused drug development strategy, we are now in an evenbetter position to execute our highly focused business plan as the future ofÆterna Zentaris could prove quite exciting.

Permit us to take thisopportunity to recognize all members of the Æterna Zentaris team for theirdedication to achieving the Company’s objectives, and to thank our shareholdersfor their support and continuing confidence. We look forward to continue to deliverclinical results and report important commercial developments to you in theyear ahead.

Gilles Gagnon,MSc, MBAPresident & CEO

Eric Dupont, PhDExecutive Chairman of the Board

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Aggressively advance cetrorelix in BPH

·                  Flagship productcandidate with significant near-term potential

·                  Retain allrights in BPH and fully support development through to NDA filing in 2009

Focus on further development of ozarelix andperifosine with current partners to ensure continued development success

**A NEW FOCUSED DRUG DEVELOPMENT STRATEGY**

Establish risk-adverse profile targeting earlier-stagecompounds with high potential for aggressive development

Build solid endocrinology and oncology franchises

EMERGE AS A FULLY-INTEGRATED, GLOBAL SPECIALIST-DRIVENBIOPHARMACEUTICAL COMPANY WITH A STRATEGIC FOCUS ON ENDOCRINE THERAPY ANDONCOLOGY

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ADVANCING THE PIPELINE

A robust pipeline from drug discovery to marketedproducts

PRECLINICAL PROGRAMS

LHRH peptidomimetics

Erucyl-PC

Ghrelin antagonists

Erk/PI3K inhibitors

DRUG DISCOVERY

120,000 compounds

DRUG PIPELINE

(cetrorelix) CETROTIDE®*In vitro*fertilization (worldwideexcept Japan)

(cetrorelix) CETROTIDE®*In vitro*fertilization (Japan)

IMPAVIDO®Leishmaniasis (black fever)

CETRORELIXBenign prostatic hyperplasiaBPH

CETRORELIXendometriosis** pivotal program encompassing several trials

OZARELIXBPH

OZARELIXProstate cancer

PERIFOSINECombined with chemotherapy and biological agents for multiple cancers

PERIFOSINECombined with radiotherapy for non-small cell lung cancer

AN-152Breast and endometrial cancer

ZEN-012multiple cancers

EP-1572growth disorders

 

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Robust Pipeline with Significant Market Opportunities

Focused and Aggressive Development Strategy withLate-Stage Compounds

**KEY INVESTMENT CONSIDERATIONS**

Solid Financial Position

Near-Term Catalysts Highlight Potential for Value Creation

Strong Pharma Team with Experience in Launching 20+Compounds

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**BUILDING SOLID ENDOCRINOLOGY AND ONCOLOGYFRANCHISES**THREE VALUE-DRIVING LEAD COMPOUNDS IN LARGE MARKETOPPORTUNITIES

**CETRORELIX**

Cetrorelix is part of Æterna Zentaris’ luteinizinghormone-releasing hormone (LHRH) antagonist therapeutic approach. Thispeptide-based active substance was developed by the Company in cooperation withNobel Prize winner Professor Andrew Schally of Tulane University in New Orleans(now at U.S. Veterans Administration and University of Miami).
| INDICATIONS     | * * | ***IN VITRO* FERTILIZATION (IVF) HYPERPLASIA  (BPH)**                                       | ** ** | **BENIGN PROSTATIC**                                                       | ** ** | **ENDOMETRIOSIS**                                                      |
|-----------------|----------|---------------------------------------------------------------------------------------------|------------|----------------------------------------------------------------------------|------------|------------------------------------------------------------------------|
| STATUS          |     | ·  Marketed worldwide under brandname  Cetrotide®                            |       | ·  Phase 3 program                                               |       | ·  Pivotal program                                           |
| PARTNERSHIPS    |     | ·  Merck Serono — Worldwide  (ex-Japan)  $13 million free cash-flow per year |       | ·  Shionogi - Japan                                              |       | ·  Solvay — Worldwide (ex-Japan) Shionogi —  Japan |
|            |     | ·  Shionogi — Japan                                                          |       |                                                                       |       |                                                                   |
| MARKET          |     | ·  Average cost of an IVF treatment cycle is  $12,400                             |       | ·  Market size of over $4 billion                                |       | ·  Market size of $1 billion                                 |
|            |     | ·  Affects 10% to 15% of couples in the U.S.                                      |       | ·  Affects more than 50% of men 60 years and  over               |       | ·  Under-diagnosed                                           |
|            |     | ·  About 5 million couples in the U.S.                                            |       | ·  Approximately 56 million cases in the U.S.,  Europe and Japan |       | ·  Affects 10% to 20% of women of reproductive  age          |
|            |     |                                                                                        |       |                                                                       |       | ·  About 26 million cases in the U.S., Europe  and Japan     |
|            |     |                                                                                        |       |                                                                       |       |                                                                   |
|            |     | Source: Barton H. Hamilton and Brian McManus  September 04                                  |       | Source: Decision Resources September 05                                    |       | Source: Datamonitor July 04                                            |
|            |     |                                                                                        |       |                                                                       |       |                                                                   |
| DIFFERENTIATION |     | ·  Leading the LHRH antagonist class in the  development of treatments for BPH    |
|            |     | ·  Dose-dependent hormonal suppression                                            |
|            |     | ·  Extensive safety database — more than  270,000 patients treated           |
|            |     | ·  Low side-effect profile                                                        |

 

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**OZARELIX**

Ozarelix is a fourth generation luteinizing hormone-releasinghormone (LHRH) antagonist administered as a depot formulation for the treatmentof benign and malignant hormone-dependent diseases.
| INDICATIONS     | **BENIGN  PROSTATIC HYPERPLASIA (BPH)**                                    | **PROSTATE  CANCER**                                                                              |
|-----------------|----------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|
| STATUS          | ·  Phase 2b                                                      | ·  Phase 2b                                                                             |
| PARTNERSHIPS    | ·  Spectrum — North America, India                          | ·  Spectrum — North America, India

    Nippon  Kayaku — Japan |
| MARKET          | ·  Market size of over $4 billion                                | ·  Market size of $3.1 billion                                                          |
|            | ·  Affects more than 50% of men 60 years and  over               | ·  Approximately 395,000 new cases in the U.S.,  Europe and Japan                       |
|            | ·  Approximately 56 million cases in the U.S.,  Europe and Japan |                                                                                              |
|            |                                                                       |                                                                                              |
|            | Source: Decision  Resources  September 05                                  | Source: Decision  Resources  June 06                                                              |
|            |                                                                       |                                                                                              |
| DIFFERENTIATION | ·  Fourth generation LHRH antagonist                             |
|            | ·  Dose-dependent hormonal suppression                           |
|            | ·  Low side-effect profile                                       |
|            | ·  Treats benign to malignant indications                        |

 

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**PERIFOSINE**

Perifosine is a novel, first-in-class, oralanti-cancer agent that modulates several key signal transduction pathways,including Akt, MAPK, and Jnk that have been shown to be critical for thesurvival of cancer cells. Perifosine is currently being studied as a singleagent and in combination with several forms of anti-cancer treatments forvarious types of cancer.
| INDICATIONS     |   | **MULTIPLE CANCERS**                                                        |   |                                                                             |
|-----------------|--------|-----------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------|
| STATUS          |   | ·  10+ ongoing Phase 1 and Phase 2 trials                         |   |                                                                             |
| PARTNERSHIPS    |   | ·  Keryx — U.S., Canada, Mexico                              |   |                                                                             |
| MARKET          |   | Examples of different cancer types                                          |   |                                                                             |
|            |   | ·  Non-small cell lung cancer                                     |   | ·  Multiple Myeloma (a form of blood cancer)                           |
|            |   | ·  Market size of $2.4 billion                                    |   | ·   Market size of $1 billion in the U.S. and  U.K.               |
|            |   | ·  Most common and deadly form of cancer                          |   | ·   Approximately 53,000 new cases in the U.S.,  Europe and Japan |
|            |   | ·  About 25% of all cancer deaths in women /  30% in men          |   |                                                                             |
|            |   | ·  About 417,000 new cases in 2004 in the U.S.,  Europe and Japan |   |                                                                             |
|            |   |                                                                        |   |                                                                             |
|            |   | Source: Datamonitor   June 06                                               |   | Source: Globocan  02                                                        |
|            |   |                                                                        |   |                                                                             |
| DIFFERENTIATION |   | ·  Novel, first-in-class oral anti-cancer agent                   |
|            |   | ·  Exciting and promising targeted molecular  approach            |
|            |   | ·  Validated oncology pathway(s)                                  |

 

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$4 BILLION MARKET

LARGE MARKET OPPORTUNITIES

**BENIGN PROSTATIC HYPERPLASIA (BPH)**

BPH is characterized by an abnormal benign growth ofthe prostatic tissues caused by testosterone. Symptoms linked to BPH includepain while urinating and frequent urges to urinate during the night andsometimes, kidney problems. In some cases, if left untreated, BPH may developinto prostate cancer. Contrary to most of the present treatments for BPH,cetrorelix is not associated with side-effects such as erectile dysfunction,loss of libido and chemical castration. According to Decision Resources,cetrorelix is currently the most advanced LHRH antagonist in development forthe treatment of BPH.

$2.4 BILLION MARKET

**NON-SMALL CELL LUNG CANCER**

Lung cancer is the leading cause of cancer deaths inboth men and women worldwide. Non-small cell lung cancer is its most commonform and yet can be very difficult to treat. Typically, by the time patientsreport symptoms, the disease has often spread to other parts of the body.Perifosine, our leading oral, anti-cancer compound with its novel mechanism ofaction, has shown direct and specific action on tumor cells which have provento be resistant to current anti-cancer agents. Furthermore, studies havedemonstrated that perifosine may be well suited for use as a single agent or incombination with other treatments.

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**GOALS FOR 2007**

Late-stage programs

**CETRORELIX**

·                  Initiate 2ndtrial of Phase 3 program in BPH

·                  Initiate safetytrial of Phase 3 program in BPH

·                  Announce fullrecruitment of first Phase 3 trial in BPH

·                  DiscloseJapanese Phase 2 results in BPH

**OZARELIX**

·                  Disclosedetailed European Phase 2 results in BPH

·                  Disclose topline U.S. Phase 2b results in BPH

·                  Disclose topline Phase 2b results in prostate cancer

**PERIFOSINE**

·                  Complete patientenrollment for Phase 2 trial in non-small cell lung cancer

·                  Disclose morePhase 1 and Phase 2 results in multiple cancers

·                  Initiateadditional Phase 2 trials in multiple cancers

EARLIER-STAGE PROGRAMS

**AN-152**

·                  Disclosedetailed Phase 1 results for breast and ovarian cancer

·                  Initiate Phase 2program in ovarian and endometrial cancer

**ZEN-012**

·                  Initiate Phase 1trial in solid tumors and lymphoma

·                  Announce topline results of Phase 1 trial in solid tumors and lymphoma

PRECLINICAL

·                  Disclose resultsfor multiple programs

·                  LHRHpeptidomimetics

·                  Erk/PI3Kinhibitors

·                  Erucyl-PC

·                  Ghrelinantagonists

·                  Announce filingof an IND for a Phase 1 program

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POISED FOR GROWTH

**ÆTERNA ZENTARIS HAS ALL THE KEYFUNDAMENTALS TO EMERGE AS A FULLY-INTEGRATED, GLOBAL SPECIALIST-DRIVENBIOPHARMACEUTICAL COMPANY WITH A STRATEGIC FOCUS ON ENDOCRINE THERAPY ANDONCOLOGY**

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CORPORATE INFORMATION

**Head Office**Æterna Zentaris Inc.1405 Parc-Technologique Blvd.Quebec, Quebec G1P 4P5CANADA

Phone: (418) 652-8525Fax: (418) 652-0881E-mail: aeterna@aeternazentaris.comInternet: www.aeternazentaris.com

**Ticker symbols**AEZ — The Toronto Stock Exchange (TSX)AEZS — NASDAQ National Market

**Transfer Agent and Registrar**Computershare Trust Company of Canada1500 University Street, 7th FloorMontreal, Quebec H3A 3S8CANADA

**Auditors**PricewaterhouseCoopers LLPPlace de la Cité, Tour Cominar2640 Laurier Blvd., Suite 1700Quebec, Quebec G1V 5C2CANADA

**Corporate Solicitors**Ogilvy Renault1981 McGill College, Suite 1100Montreal, Quebec H3A 3C1CANADA

**Arnold & Porter**399 Park AvenueNew York, NY 10022USA

**Annual Meeting**May 2, 2007, 10:30 a.m.Le Centre Sheraton Hotel1201 René-Lévesque Blvd. WestMontreal, Quebec H3B 2L7CANADA

SCIENTIFIC ADVISORY BOARD

**EXTERNAL MEMBERS**

**Dr. Gerald Batist, MD, CM, FACP**Director of the McGill Center for TranslationalResearch in Cancer, Chair and Professor,Department of Oncology and Medicine,McGill University, Jewish General Hospital,Montreal, Canada

**Dr. Frans M. J. Debruyne, MD, PhD**Professor and Chairmanat the University Medical Center inNijmegen, The Netherlands

**Dr. Alan H. DeCherney, MD**Professor at UCLA Schoolof Medicine in Los Angeles,United States

**Prof. Dr. Klaus H.R. Diedrich, MD, PhD**Director, Department of Gynecology and ObstetricsUniversity Clinic of Luebeck, Germany

**Prof. Dr. René Frydman, MD, PhD**Head of the Department of Gynecolgy ObstetricsHôpital Antoine Beclere, Paris, France

**Dr. Fernand Labrie, OC, OQ, MD, PhD**Head, Centre hospitalierde l’Université Laval ResearchCenter (CHUL), Quebec, Canada

**Dr. Hartmut Michel, PhD**Director, Max-Planck Institutefor Biophysics, Frankfurt, GermanyNobel Prize laureate in chemistry, 1988.

**Prof. Dr. Marcel Verheij, MD, PhD**The Netherlands Cancer Institute/Antoni van LeeuwenhoekHospital, Amsterdam, The Netherlands

**Prof. Dr. Ulf Rapp**Institute of MedicineWürzburg UniversityGermany

**Dr. Daniel D. Von Hoff, MD, FACP**Senior InvestigatorTranslational Genomics Research InstitutePhoenix, Arizona, United States

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**DIRECTORS**

**Marcel Aubut, O.C., O.Q., Q.C.**Quebec, CanadaManaging Partner*Heenan Blaikie Aubut, Lawyers*

**Stormy Byorum, MBA (1)**New York, USASenior Managing Director*Stephens Cori Capital Advisors(a division of Stephens Inc.)*

**José P. Dorais**Quebec, CanadaPartnerMiller Thomson Pouliot, Lawyers

**Dr. Éric Dupont, PhD (2)**Quebec, CanadaExecutive Chairman of the Board*Æterna Zentaris Inc.*

**Prof. Dr. Jürgen Engel, PhD**Frankfurt, GermanyExecutive Vice President,Global Research & Developmentand Chief Operating Officer*Æterna Zentaris Inc.*

**Jürgen Ernst, MBA (2)**Brussels, BelgiumCorporate Director

**Gilles R. Gagnon, MSc., MBA**Quebec, CanadaPresident and Chief Executive Officer*Æterna Zentaris Inc.*

**Dr. Pierre Laurin, PhD, O.C. (2)**Quebec, CanadaExecutive in Residence*HEC Montreal*

**Gérard Limoges, CM, FCA (1)**Quebec, CanadaCorporate Director

**Pierre MacDonald, MSc. Comm. (1) (2)**Quebec, CanadaChairman of the Board*Eurocopter Canada Ltd.*

**Gerald J. Martin**California, USACorporate Director

(1)             Member of the Audit Committee

(2)             Member of the Corporate Governance, Nominatingand Human Resources Committee

**SENIOR OFFICERS**

**Dr. Éric Dupont, PhD**Executive Chairman of the Board

**Gilles R. Gagnon, MSc., MBA**President and Chief Executive Officer

**Prof. Dr. Jürgen Engel, PhD**Executive Vice President,Global Research and Developmentand Chief Operating Officer

**Dr. Eckhard Günther, PhD**Vice President, Drug Discovery

**Mario Paradis, CA**Vice President, Finance & Administrationand Corporate Secretary

**Dr. Manfred Peukert, MD**Vice President, Medical Affairs

**Dr. Matthias Rischer, PhD**Vice President, Pharmaceutical Development

**Dennis Turpin, CA**Vice President and Chief Financial Officer

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Printed in Canada

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